Group Mach issues clarification regarding amended proposal to acquire Transat AT

10 July, 2019

Group Mach stated (09-Jul-2019) it did not withdraw its amended proposal to acquire Transat AT, as stated in recent media reports. Group Mach stated Transat AT's board of directors did not reply to Mach's amended proposal and rejected its proposal by entering into the arrangement agreement with Air Canada, opposing a condition outlined in Mach's amended proposal and rendering it null and void. Mach will not submit a superior proposal as defined under the arrangement agreement. [more - original PR - English/French]